Question

Analyse the reasons of increasing effects of globalisation on India.

Hint:

Globalization brings both opportunities and challenges: economic growth and technological advancement but also income inequality and cultural changes.

Answer 1

Globalization has led to greater economic liberalization in India, resulting in increased foreign investment and trade. The rise of technology and digital services has boosted India’s IT sector and created job opportunities. However, globalization has also led to widening income inequality and the erosion of traditional industries. Globalization has influenced cultural norms, leading to a blend of Western and Indian values, but has also challenged local businesses unable to compete with global giants.